Challenger banks in £1.6bn merger talks
Two of Britain's biggest challenger banks have confirmed they are in talks about a £1.6bn merger.
Wolverhampton-based Charter Court Financial Services and OneSavings Bank (OSB) say that they are in advanced discussions regarding a possible all-share combination of the two companies.
The deal, which would be structured as a takeover by OSB, would see Charter Court shareholders take a 45% stake in the combined group.
It is proposed that Andy Golding, currently CEO of OSB, will become CEO of the combined group.
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